HÀ NỘI — Despite facing many difficulties due to economic slowdown in 2023, Việt Nam’s insurance market has still reported positive growth and the trend is forecast to continue in the near future. The insurance market currently has 82 insurance enterprises, including 31 non-life insurance enterprises, 19 life insurance enterprises, 2 reinsurance enterprises, 29 insurance brokerage enterprises, and 1 branch of a foreign non-life insurance enterprise. Insurance has been so far protecting assets of all economic sectors and industries with diverse types, such as property damage insurance, aviation insurance, maritime insurance, credit insurance, agricultural insurance and fisheries insurance. Besides, Việt Nam's insurance market is also considered to have much room for development. Insurers should also promote agricultural insurance products; risk insurance products for natural disasters and newly arising risks through the insurance risk fund mechanism; green insurance; and insurance products on network security and transactions in cyberspace.

Source: Viet Nam News December 08, 2023 17:09 UTC